Petlife International Ltd. Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 02837157

Petlife International Ltd.

Unaudited financial statements

30 September 2025

Petlife International Ltd.

Statement of financial position

30 September 2025

	2025		2024
Note	£	£	£	£

Fixed assets

Tangible assets	6		256,198		299,558

Current assets

Stocks		552,612	711,789
Debtors	7	2,331,751	1,402,529
Cash at bank and in hand		31,503	40,895
		-----------	-----------
		2,915,866	2,155,213

Creditors: Amounts falling due within one year	8	( 2,758,978)		( 1,941,898)
		-----------		-----------
Net current assets			156,888		213,315
			---------		---------
Total assets less current liabilities			413,086		512,873

Creditors: Amounts falling due after more than one year	9	( 100,994)	( 232,682)
		---------	---------
Net assets		312,092	280,191
		---------	---------

Capital and reserves

Called up share capital	60,040	60,040
Share premium account	18,000	18,000
Capital redemption reserve	123,960	123,960
Profit and loss account	110,092	78,191
	---------	---------
Shareholders funds	312,092	280,191
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.

For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Petlife International Ltd.

Statement of financial position (continued)

30 September 2025

These financial statements were approved by the board of directors and authorised for issue on 15 September 2026 , and are signed on behalf of the board by:

J A Hancock
Director

Company registration number: 02837157

Petlife International Ltd.

Notes to the financial statements

Year ended 30 September 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Unit 2 Cavendish Road, Bury St Edmunds, Suffolk, IP33 3TE.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.

Judgements and key sources of estimation uncertainty

Estimates and judgements used in preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The resulting accounting estimates will, by definition seldom equal the related actual results. Any subsequent changes are accounted for with an effect on income at the time such updated information is available. The estimates and assumptions that have a significant effect on the carrying amounts of assets and liabilities are discussed below: - Deferred tax assets - Provision for unrelieved losses estimates the level of which will be recoverable in future periods. Further detail of the estimate has been included in the tax accounting policy.

Revenue recognition

Turnover is recognised at the fair value of the consideration received or receivable in the ordinary course of business, and is shown net of Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Income tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively.

Foreign currencies

Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.

Intangible assets

Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill	-	5%/10% straight line
Trade and licenses	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	Straight line over the period of the lease
Plant, machinery & office equipment	-	1-10 years straight line and 10% - 30% reducing balance
Motor vehicles	-	3-5 years straight line
Website	-	5 years straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Hire purchase agreements

Assets held under hire purchase agreements are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a financing transaction it is measured at present value. Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Pension costs

The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.

4. Employee numbers

The average number of employees during the year was 29 (2024: 34 ).

5. Intangible assets

	Goodwill	Trade and licences	Total
	£	£	£
Cost
At 1 October 2024	350,469	47,330	397,799
Additions	–	–	–
Disposals	( 119,000)	–	( 119,000)
	---------	-------	---------
At 30 September 2025	231,469	47,330	278,799
	---------	-------	---------
Amortisation
At 1 October 2024	350,469	47,330	397,799
Charge for the year	–	–	–
Disposals	( 119,000)	–	( 119,000)
	---------	-------	---------
At 30 September 2025	231,469	47,330	278,799
	---------	-------	---------
Carrying amount
At 30 September 2025	–	–	–
	---------	-------	---------
At 30 September 2024	–	–	–
	---------	-------	---------

6. Tangible assets

	Leasehold property	Plant, machinery & office equipment	Motor vehicles	Website	Total
	£	£	£	£	£
Cost
At 1 October 2024 and 30 September 2025	82,429	989,782	5,183	19,279	1,096,673
	-------	---------	------	-------	-----------
Depreciation
At 1 October 2024	82,429	690,224	5,183	19,279	797,115
Charge for the year	–	43,360	–	–	43,360
	-------	---------	------	-------	-----------
At 30 September 2025	82,429	733,584	5,183	19,279	840,475
	-------	---------	------	-------	-----------
Carrying amount
At 30 September 2025	–	256,198	–	–	256,198
	-------	---------	------	-------	-----------
At 30 September 2024	–	299,558	–	–	299,558
	-------	---------	------	-------	-----------

7. Debtors

	2025	2024
	£	£
Trade debtors	774,610	637,572
Amounts owed by group undertakings	1,301,554	578,931
Other debtors	255,587	186,026
	-----------	-----------
	2,331,751	1,402,529
	-----------	-----------

8. Creditors: Amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	301,815	311,396
Trade creditors	385,569	667,223
Amounts owed to group undertakings	177,565	177,565
Social security and other taxes	10,270	12,934
Sales ledger financing	585,989	424,629
Other creditors	1,297,770	348,151
	-----------	-----------
	2,758,978	1,941,898
	-----------	-----------

Included within other creditors are hire purchase agreements amounting to £10,663 (2024: £16,706) secured against the assets to which they relate. The sales ledger finance amounting to £585,989 (2024: £424,629) is secured against the trade debtors to which they relate.

9. Creditors: Amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	76,525	197,550
Other creditors	24,469	35,132
	---------	---------
	100,994	232,682
	---------	---------

Included within other creditors are hire purchase agreements amounting to £24,469 (2024: £35,132) secured against the assets to which they relate.

10. Operating leases

The total future minimum lease payments under non-cancellable operating leases are as follows:

	2025	2024
	£	£
Not later than 1 year	109,182	90,370
Later than 1 year and not later than 5 years	44,492	18,111
	---------	---------
	153,674	108,481
	---------	---------

11. Related party transactions

At the reporting date, the Company had an outstanding balance of £1,301,554 due from group companies. The balance is interest-free, unsecured, and repayable on demand. At the reporting date, the Company had an outstanding balance of £177,565 due to a group company. The balance is interest-free, unsecured, and repayable on demand.